Only real income taxable- ITAT Delhi deletes ₹52.65 Cr notional interest addition & allows inventory loss from theft/flood

JCIT (OSD) Vs Sahara India Real Estate Corporation Ltd. (ITAT Delhi) The Revenue filed appeal against CIT(A)’s order deleting additions of ₹52.65 Cr (notional interest) & ₹20.18 Cr (theft loss). Assessee filed cross-objection seeking allowance of ₹12.09 Cr flood-loss disallowed by lower authorities. Background AO completed assessment u/s 143(3) adding ₹52.65 Cr as notional interest on interest-free advances @ 12% and disallowing ₹32.28 Cr claimed as loss of inventory due to theft, flood & expiry. CIT(A) deleted the notional interest and partly allowed the loss claim-accepti...